Tethys tags Tajikistan resource at 27.5 billion bbl

Tethys Petroleum Ltd., Guernsey, UK, said an updated independent evaluation indicates that the company’s Tajikistan land holdings contain an estimated gross unrisked mean recoverable prospective resource of 27.5 billion bbl of oil equivalent, more than the UK North Sea.

The prospective resource on the 35,000 sq km is 31% oil and condensate. No well has been drilled through salt in Tajikistan to date even though the target formations are productive in neighboring countries, the company noted. Tethys plans to drill in 2013.

The primary strategy in Tajikistan is to complete a comprehensive geological and geophysical data gathering exercise to locate and drill the first exploratory well below the regional salt layer. The final stage of the seismic program to start this summer will help identify the location.

Initial analysis of data from the aerial graviometry survey completed at the end of 2011 revealed several attractive prospective areas with the potential presence of very large deep subsalt and subthrust prospects in the Bokhtar Production Sharing Contract area.

Seismic is to be shot in Vaksh valley and the Dushanbe Step. The graviometry survey and other data have identified these areas as the most likely to contain large deep prospects including potential Jurassic reefs located on the edge of likely Permian basement high features. Jurassic reefs form some of the largest fields in the Amu Darya basin in which the Bokhtar PSC is positioned.

The data also reveal great potential in other parts of the PSC area, including the Kulob area. Tethys owns an 85% interest in the Bokhtar PSC following the recent acquisition of a further 34% interest from its partner in the project.

Tethys also continues to exploit the shallow potential in Tajikistan with oil production from Beshtentak, deepening of the Persea exploration well, and plans to further evaluate the East Olimtoi oil discovery.